All the heavens begin with the love in the courtyard.

How can I not feel lost?

His career had just begun, and now it was about to end; he might even face imprisonment.

If this matter is linked to what happened at the beginning of the year, he will be doomed. The amount involved is enough to put him in jail for life. Yang Shaodong was imprisoned for twelve years, and someone like him with no background will probably be the scapegoat and have to shut up completely.

The more he thought about it, the more frightened he became. Looking at this group of good-for-nothings in front of him, he didn't even have the energy to curse them. At this moment, he began to frantically think of a solution.

Yang Xun cannot be defeated here. He has even greater ambitions for the future. He wants to become a true business tycoon. He cannot be defeated by a small company like Cheng Yang Electric Appliances. He will not, he will not!

His face turned pale and then flushed, his mind racing with thoughts.

It wasn't until his secretary walked over and shook him awake that Yang Xun suddenly woke up.

Looking at his secretary's face, who was still completely unaware of the seriousness of the matter, a startling idea suddenly popped into his mind, and once it appeared, he couldn't stop it.

His expression quickly returned to normal. He took a few deep breaths before speaking with a serious face.

"I only want to inform you all of one thing today: Cheng Yang Electric Appliances has encountered a serious quality problem, which has already been published in today's An Yun Daily. I hope you all understand the seriousness of this problem. Cheng Yang Electric Appliances will face enormous challenges. I hope you can all get back to your posts as soon as possible and start actively dealing with what's coming next. I don't want to scold anyone right now, you all better get moving! Hurry up!"

Yang Xun's shouts finally woke everyone up, and they all ran outside. In fact, they didn't know how to deal with it or what to deal with, because this was the first time they had experienced something like this.

After watching everyone run far away, Yang Xun called his secretary back and said with a serious expression.

"Notify the finance department to withhold all payments from suppliers. From now on, stop all payments to suppliers. If they inquire, say that payments will be settled after the matter is investigated. Also, make an appointment with the bank. To prevent the government from freezing funds, we must transfer the money out in advance to prevent a cash flow crisis. Tell the finance manager and me to go to the bank now!"

The secretary nodded and then went to work. Yang Xun watched the secretary's back, a ferocious look appearing on his face. "Every man for himself," he thought. There was no place for him to stay here. He had to get out of there within the limited time he had left.

Yang Xun is indeed quick-witted. He can grasp the key points immediately. He was able to sense the impending crisis during the phone call just now. Yang Xun's ability to rise from a farmer's son to a multi-millionaire is all thanks to his clever little brain.

Following the publication of the news in the An Yun Daily, the leakage incident at Cheng Yang Electric Appliances was completely exposed, which also brought to light another problem with Cheng Yang Electric Appliances: shoddy workmanship.

The photos and comparisons of the four disassembled electric fans by Lei Dongbao were widely published in numerous newspapers and magazines, which thoroughly ignited the anger of the people. Cheng Yang Electric Appliances' reputation as a dishonest merchant was almost firmly established. On this day, the sixty stores of Cheng Yang Electric Appliances City were surrounded by people waiting for after-sales service, which eventually alarmed the local government.

This matter required almost no investigation to see that the floor fan did indeed have quality problems. The government quickly shut down Cheng Yang Electric's store and assured all citizens that it would handle the matter as soon as possible.

Everyone knows the background of Cheng Yang Electrical Appliances City. The government's initial idea was naturally to seal off the store to prevent it from being impacted. Then, naturally, everyone should sit down and talk to resolve the issue as soon as possible.

Cheng Yang Electric Appliances also actively cooperated with the government's work. Yang Xun sent out senior executives to deal with the development of the situation, first cooperating with government departments to investigate suppliers, and at the same time stabilizing the public's emotions.

In just two days, he transferred huge sums of money from several banks in the names of several shareholders. Having been involved with Yang Shaodong for several years, he had also gotten to know some people in certain circles. He quickly began to speed up the money laundering process through certain channels, and quickly converted the money that could not be laundered into gold and other precious metals.

In order to avoid arousing suspicion and to buy more time, on May 25th, several newspapers in An Van and Chi Giang provinces published a statement from Cheng Yang Electrical Appliances City. The statement clearly stated that they were willing to accept all customers to come to the store for refunds and returns, and that Cheng Yang Electrical Appliances had an unshirkable responsibility for this matter and would actively cooperate with the government to handle the incident properly.

In the statement, Cheng Yang Electric Appliances apologized sincerely, which greatly eased the public's emotions and also slowed down the government's investigation into Cheng Yang Electric Appliances. The government then agreed to temporarily lift the closure of the store and allow Cheng Yang Electric Appliances to start after-sales service. Just when everyone was waiting for Cheng Yang Electric Appliances to handle the matter, they suddenly discovered that Yang Xun, the general manager of Cheng Yang Electric Appliances, could not be contacted.

Yes, the day after the statement was released, no one answered the phone at Yang Xun's home. His secretary sent someone to check on the situation and found that Yang Xun's home was in a mess, as if something bad had happened.

At first, everyone thought Yang Xun had encountered some misfortune and immediately called the police. After checking the situation, the police quickly launched an investigation, questioning the people around him and investigating Yang Xun's enemies, etc. The investigation was also directed at the possibility that Yang Xun had encountered some misfortune.

No one expected Yang Xun to flee, because just yesterday, the day the statement was released, Yang Xun was still at work as usual and held a meeting with all the management, saying that they would actively deal with the after-sales refunds and returns tomorrow, and that the company had sufficient funds and hoped that everyone would get through the difficulties with the company.

The next day, the person disappeared, and given the state of the house, all the valuables were gone. It was clear that the person had been kidnapped or had an accident. The police investigated for a whole day but still had no clue, until a junior officer said something to the captain.

"I remember the information said that Yang Xun has a girlfriend. Should we investigate his girlfriend?"

The team leader thought it made a lot of sense and immediately began investigating Dai Jiaofeng's whereabouts. The investigation revealed that Dai Jiaofeng had already left the country three days ago through special channels and with a legitimate passport. At this critical moment, Dai Jiaofeng's sudden departure from the country was an unexpected situation that made the entire investigation team realize that something was wrong, very wrong.

The investigation team immediately changed its focus and began investigating Yang Xun's personal situation, including his bank accounts and recent whereabouts. This investigation led to a major discovery: large sums of money had been withdrawn from Yang Xun's bank accounts and Cheng Yang Electrical City's company account in the past few days.

These funds did not flow into Yang Electric's account, but most likely into the underground passage. The investigation team immediately realized that Yang Xun had fled!

After three days of investigation, it was finally determined that Yang Xun had likely left the country illegally, leaving everyone stunned!

Indeed, Lei Dongbao was stunned when he heard the news. He never expected that Yang Xun would run away. But thinking about it carefully, it was only natural for Yang Xun to run away.

After all, if they hadn't run away, Cheng Yang Electric Appliances would definitely have been doomed this time. From June to August, Cheng Yang Electric Appliances sold more than one million floor fans. This time, they would have to pay at least tens of millions in compensation. Cheng Yang Electric Appliances probably only has a few million in cash on hand now. This is after they withheld payments from suppliers. After all, they haven't made up for the losses in May yet.

Moreover, even if compensation is paid, given the significant impact of this incident, the government will inevitably investigate Cheng Yang Electric Appliances. Those shareholders, in order to protect themselves, will definitely look for a scapegoat, and Yang Xun happens to be the perfect scapegoat. Therefore, it is only natural that Yang Xun would flee.

After Yang Xun absconded with the money, Lei Dongbao originally thought that the next thing to come would be the news of Cheng Yang Electrical City's bankruptcy and closure.

Cheng Yang Electric actually has many high-quality assets, and Lei Dongbao had already planned to acquire them.

But to his utter surprise, things took a completely different turn in the blink of an eye.

News of Yang Xun's escape was almost entirely absent from newspapers and magazines, and news of Cheng Yang Electric's electrical leaks and shoddy workmanship also quickly disappeared from various publications.

If it weren't for the fact that this story was still circulating in the electronics industry, Lei Dongbao would have thought he was dreaming.

Just as Lei Dongbao was beginning to find out what was going on...

A few days later, on September 1st, major newspapers and media outlets published a statement regarding Cheng Yang Electric Appliances.

The statement roughly says that due to Cheng Yang Electric Appliances' operational difficulties, the free return and exchange policy implemented a few days ago will be cancelled.

In addition, it was announced that customers who purchase a floor fan between June 1st and September 1st will receive a free NT$20 coupon. This coupon can be used at any Cheng Yang appliance store with a purchase of NT$50 or more, and is valid for two years.

Another point is that customers who purchase floor fans will have their free warranty extended by two years.

This single statement directly overturned the previous free return and exchange policy. Almost simultaneously, major newspapers began to vigorously promote positive news about Cheng Yang Electric Appliances, such as how many jobs Cheng Yang Electric Appliances had created, and how much rice and flour Cheng Yang Electric Appliances had donated to a certain nursing home, and so on.

Finally, the "real" inside story about the 59-yuan floor fan was also widely publicized in various newspapers and magazines.

The inside story likely began in early June when Cheng Yang Electric Appliances felt that as a large enterprise, it had been constantly taking from society, and decided that it was time to make some contributions to society.

As a business, one must have a sense of social responsibility. Therefore, the management of Cheng Yang Electric Appliances unanimously decided to do something great for the country and its people: to create a fan that is not for profit, but simply to make it affordable for more people and to give children a cool summer. Thus, the 59-yuan floor fan, which benefits the country and its people, was officially launched.

The news report clearly stated the approximate cost of a floor fan, which was calculated to be around 60 yuan. However, Cheng Yang Electric Appliances sold it for 59 yuan, simply to demonstrate corporate social responsibility and not to make a profit, treating it as a form of charity.

Unfortunately, good intentions backfired. Due to high costs and low prices, Cheng Yang Electric Appliances faced immense pressure. Meanwhile, two supervisors from the quality control and purchasing departments colluded to line their own pockets, causing a decline in the quality of the electric fans.

The news report also used Lei Dongbao's four disassembly diagrams to analyze the course of events. For example, the parts and quality were first-class at the beginning, but later the quality gradually deteriorated. This was due to Cheng Yang Electric's mismanagement, which allowed the quality inspection department supervisor and the purchasing department supervisor to take advantage of the situation. These two people gradually lost their way and became parasites on the company.

Ultimately, this caused enormous economic and reputational damage to Cheng Yang Electric Appliances. The news report concluded by announcing that the two corrupt officials had been criminally detained by the public security authorities and would face public condemnation and legal sanctions!

Very popular!

When Lei Dongbao saw this news report about whitewashing, he almost burst out laughing. It seemed that the other party had some experts. If he was not mistaken, Cheng Yang Electric Appliances should have changed owners.

Cheng Yang Electronics City has a very strong foundation, with sixty well-established stores and a well-developed logistics hub at its headquarters. If nothing unexpected happens, it can earn tens of millions of yuan in profit annually, or even more.

Moreover, the most crucial point is that Cheng Yang Electrical City holds the number one position in the market. This leading position is extremely rare, so its value is infinitely amplified.

After Yang Xun absconded, his shareholders quickly began looking for someone to take over. And surprisingly, quite a few people did, including a foreign investor.

In order to sell Cheng Yang Electric Appliances at a good price, it was essential to downplay the incident and make it disappear completely. Foreign capitalists were already experienced in this, and with the cooperation of the shareholders, they quickly began to whitewash the situation and successfully resolved the crisis.

Cheng Yang Electric Appliances' solution did indeed convince the vast majority of customers, who then chose to believe the news reports that had cleared Cheng Yang's name. After all, Cheng Yang Electric Appliances' price war over the past few months had indeed won over a large portion of the general public.

For the small number of customers who disagreed with the plan, Cheng Yang Electric Appliances quickly offered refunds or replacements for new fans, thus averting the crisis at minimal cost.

With the arrival of October, the electric fan market cooled down rapidly, and the turmoil surrounding Cheng Yang Electric Appliances also began to subside quickly, just like the weather.

To help people forget the past, Cheng Yang Electric Appliances launched another National Day promotional event on October 1st to express gratitude and appreciation. This attracted a wave of goodwill, and ordinary people quickly forgot about the electrical leakage accident that occurred a month ago.

What ordinary people don't know is that in just one month, Cheng Yang Electric Appliances has undergone a major overhaul. More than 70% of the former management and store managers have been replaced, and a professional team has quickly moved in.

Lei Dongbao was also well aware that the era of Yang Xun was over, and new challenges were about to begin.

New challenges did indeed arrive. Cheng Yang Electric Appliances changed from a state-owned enterprise to a joint venture. In 1987, Cheng Yang Electric Appliances City quietly changed its name to Huamei Electric Appliances. Even the signboard was changed without anyone noticing. From then on, Cheng Yang Electric Appliances completely became a thing of the past.

The newly established Huamei Electrical Appliances has more shareholders, and the newly appointed general manager is still a Chinese man surnamed Huang.

After taking office, Mr. Huang began to reorganize Huamei Appliances, focusing on logistics and after-sales service, establishing his own after-sales team, and strictly controlling the product quality of suppliers. Within a year, Huamei Appliances' reputation was completely turned around.

That same year, Lei Dongbao's five-year contract with Jiangcheng Electrical Appliance Factory officially expired. The two sides did not have a pleasant discussion about the renewal. This time, Jiangcheng wanted more because they had enough leverage.

Lei Dongbao had also considered breaking free from this shell and starting to develop externally, but the time was not yet ripe. Without this shell, it would be difficult for him to gain a foothold in China before 1992.

Moreover, with this kind of corporate affiliation, it is far more convenient for enterprises to conduct business domestically than for private enterprises.

After negotiations, the land, other equipment, and personnel of Jiangcheng Electrical Factory were converted into shares, and the two parties established a joint-stock company. Lei Dongbao held 51% of the shares, and the Jiangcheng government held 49% of the shares. The two parties reached a consensus on cooperation.

In the following years, Jiangcheng Electric Appliances and Huamei Electric Appliances became bitter rivals. Both began to exert their strength in the electric appliance market and started to expand into other provinces. They consistently ranked first and second in the market, with their strengths remaining roughly equal.

Time flew by and it was 1992. In that year, China officially opened its doors to private enterprises, and the spring of private enterprises officially arrived.

That same year, Huamei Electrical Appliances underwent a shareholding reform and successfully listed on the A-share market, with a market capitalization of 800 million RMB.

Jiangcheng Electric Appliances was not to be outdone, and successfully went public in early 1993 with a market value of 700 million RMB.

Lei Dongbao thus became a billionaire in the 1990s, but in Lei Dongbao's view, the future of Jiangcheng Electric Appliances had only just begun.

The opening of the market gave Lei Dongbao more room to maneuver. Through the acquisition of shares in the secondary market, Jiangcheng's shareholding was diluted to 37%.

That same year, the VCD player that would determine the fate of Jiangcheng Electric Appliances was officially launched and went on sale.

A new era is dawning!

Chapter 101: Falling Out with Jiangcheng

During the Spring Festival of 1993, Lei Dongbao officially moved into a new home, a three-story villa with an area of ​​over 1,000 square meters. This villa, thirty years later, will be worth at least 100 million yuan, because it is located in Shenzhen.

As early as 1990, Lei Dongbao had already moved his headquarters to Shenzhen and started planning to build a production base and headquarters building there, covering a total area of ​​more than 5,000 mu.

Taking advantage of the current cheap land prices, Lei Dongbao had to take advantage of Shenzhen's resources. He negotiated many preferential policies with Shenzhen, including land and tax breaks, with the future value of the land alone expected to be astronomical.

Although Jiangcheng Electric Appliances has developed relatively smoothly in recent years, it has only expanded within a small area of ​​four provinces and mainly operates in the southern region. If it wants to develop into a nationwide chain of electrical appliance stores in the future, it must have its own production base.

Relying on OEM manufacturing will certainly not meet the needs of enterprise development in the future. The 1990s was an era of rapid economic development in China, but also an era of dramatic changes. Lei Dongbao must keep up with the times.

There are reasons why we chose to start making big moves in the 1990s. In the 1980s, it was difficult for domestic transportation and logistics to cover the whole country.

There are also various inadequate laws, a lack of transparency in investment promotion, and even issues with ownership. If you develop too quickly, the company may not even be yours anymore.

If development hadn't taken place in the 1990s, various costs would have skyrocketed in the 21st century, putting immense pressure on businesses. In the 1990s, it was possible to acquire 5,000 acres of land at a very low cost, but after 2000, the cost of that land became an astronomical figure.

From Lei Dongbao's contracting of Jiangcheng Hardware Factory in 1983 to this year, it has just been ten years since the establishment of Jiangcheng Electric Appliances. These ten years have been a period of laying a solid foundation for Jiangcheng Electric Appliances, and the next ten years will be a period of rapid development for Jiangcheng Electric Appliances.

Actually, there's another point. In the 1980s, people had just started to have enough to eat. Buying an electric fan would cost two months' salary. Where would they get the money to spend?

Especially in rural areas, a huge consumer market was completely closed off. With a population of 1.1 billion, including 800 million farmers, there was almost no demand for large electrical appliances in rural areas in the 1980s.

In many places, electricity had only just been connected, and it wasn't until the 1990s that electric lights gradually became widespread. Even if someone bought a television set, they couldn't watch it because power outages were frequent in rural areas and the voltage was extremely unstable.

In short, everyone is poor!

It wasn't until the 1990s, with rising prices and the opening of the market economy, that the migration of migrant workers across the country officially began.

Farmers who used to rely on the weather for their livelihood can now work and earn money in cities. With money in their hands, people have the desire to consume. When someone earns money, they think about buying a couple of appliances to take home.

Many migrant workers traveled thousands of miles, carrying a TV series back to their rural hometowns for the Spring Festival. This kind of thing often appears in the memories of the 1990s, when the economy in various places was developing at an astonishing rate.

During the Spring Festival of 1993, Song Yunhui brought his seven-year-old daughter, Song Xiaoyin, to Shenzhen to pay New Year's visits. Song Yunhui came to relax and unwind.

Song Yunhui was transferred from Jinzhou Chemical Plant to Donghai Chemical Plant in 1989. He initially served as the executive deputy director, and by 1991, he had been promoted to director of Donghai Chemical Plant. At just over 30 years old, he was already a senior state cadre.